I think you don't realise what bookies are there for - to make themselves lots of money. They don't make fools of themselves at all and always come out on top over the long-term. It's also great for business for them to be lose sometimes. Odds aren't predictions, as some of you seem to think. The odds are based on a number of things, including how people are betting. If many are betting for Swans to be relegated, then the odds will come down. This has nothing to do with whether any bookie thinks Swans will be relegated or not. If odds are so out of sync, as many of you are saying, then it's your chance to make some easy money.
There was a poll on here at start of season and most Swans fans on here thought Swans would finish bottom 4. So if that's what most fans think, why should bookies offer long odds for relegation. The odds mostly reflect what fans thing.